The new ALLL tool will support existing reserve methodologies and the new Current Expected Credit Loss (CECL) standards. The new CECL standards involve several major changes to the way that financial institutions gather and analyze data and plan for credit losses.

“The American Bankers Association has stated that CECL represents the greatest change to bank accounting ever, so operational readiness is required to ensure that your financial institution will be prepared,” said Jim Jones, President and CEO of First Wellesley Consulting Group Inc. “New, detailed processes that will depend on more granular data collection and analysis, economic forecasts, modeling and documentation to produce defensible life of loan loss estimates will require effective tools. The time to begin a successful CECL transition is now.”

The new ALLL functionality in Portfolio Manager includes:

Reporting that includes the three required impairment calculations: NPV of Future Cash Flows, Collateral Dependent and FMV impairment

Ability to easily generate the Calculated Allowance for Loan and Lease Losses and Impairment Analysis Reports

"If you want to avoid disruption, you need to stay several steps ahead of change,” said Eric Cummins, Senior Vice President and General Manager of Lending at D+H. “D+H helps our clients stay ahead by delivering products that support current and future accounting and reporting standards.”

The Portfolio Manager ALLL tool is part of the end-to-end solution that leverages the data in CreditQuest, but its robust data loading capabilities can also be used as an independent solution, or in conjunction with other D+H offerings.

About D+H
D+H (TSX: DH) is a leading financial technology provider the world's financial institutions rely on every day to help them grow and succeed. Our global transaction banking, lending, payments and integrated core solutions are trusted by nearly 8,000 banks, specialty lenders, community banks, credit unions, governments and corporations. Headquartered in Toronto, Canada, D+H has more than 5,500 employees worldwide who are passionate about partnering with clients to create forward-thinking solutions that fit their needs. With annual revenues in excess of $1.5 billion, D+H is recognized as one of the world's top FinTech companies on IDC Financial Insights FinTech Rankings and American Banker's FinTech Forward rankings. For more information, visit dh.com.